Secondary Recommendation

Marstons - Expansion of large food-led pubs to trigger re-rating

July 2014

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Marstons, which has 1,800 pubs across the country, traditionally made most of its money from wet-led taverns selling a selection of beers and had faced gentle decline because of issues ranging from the smoking ban to cheap supermarket booze. However its fortunes have been transformed thanks to the implementation of a brand new strategy based on opening family and female friendly pubs capable of serving decent food at affordable prices. Marstons has now opened 100 new-build pubs, which cost between Â£2.5m-Â£3m and generate Â£0.4m in profit, a far cry from its legacy â€œspit and sawdustâ€ drinks-led pubs, which typically make just Â£50,000-Â£100,000. With this yearâ€™s World Cup (all its pubs have large screens) and an improving eco ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

Marstons - Expansion of large food-led pubs to trigger re-rating

July 2014

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